El estado de pérdidas y ganancias
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El estado de pérdidas y ganancias

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  • Apuntes
  • Revisión por tema
    FAISAL A.
    YE
    FAISAL A.

    Profit and loss statement should also include petty cash and daily expenses

    Gabriel O.
    ML
    Gabriel O.

    the overall profit and loss in an organisation over a determined period of time, Income statement informs how well an organisation is doing.

    Wendy C.
    AU
    Wendy C.

    The Profit and Loss statement The format of the Profit and Loss statement will be influenced by the nature of the firm's activities. It should also respond to the needs of those who use it. It will be assumed that the business is a trading firm using the perpetual inventory approach. The Profit and Loss statement for a trading firm falls into two sections: •calculation of gross profit (revenue less cost of sales) •calculation of net profit (gross profit less other expenses) The Profit and Loss statement The format of the Profit and Loss statement will be influenced by the nature of the firm's activities. It should also respond to the needs of those who use it. It will be assumed that the business is a trading firm using the perpetual inventory approach. The Profit and Loss statement for a trading firm falls into two sections: •calculation of gross profit (revenue less cost of sales) •calculation of net profit (gross profit less other expenses)

    Samuel F.
    ZA
    Samuel F.

    The profit and loss statement, or P&L, is a name that is often used for what today is the income statement, statement of income, statement of operations, or statement of earnings. In other words, the profit and loss statement reports a company's revenues, expenses, and most of the gains and losses which occurred during the period of time specified in its heading. The profit and loss statement's period of time could be a year, a year-to-date period such as nine months, a quarter of a year, one month, four weeks, 52 weeks, etc. (A few gains and losses will not be reported on the profit and loss statement and will instead be reported on the company's statement of comprehensive income.) Under the accrual basis (or method) of accounting the revenues and expenses reported on the profit and loss statement should be: •the revenues (sales, service fees) that were earned during the accounting period, and •the expenses (cost of goods sold, salaries, rent, advertising, etc.) that match the revenues being reported or have expired during the accounting period Today, the bottom line of this financial statement will appear as net income, which is the net amount of the revenues, expenses, gains, and losses being reported.

    Samuel F.
    ZA
    Samuel F.

    How does the purchase of a new machine affect the profit and loss statement?

    Lawrence T.
    GH
    Lawrence T.

    profit and loss statement is comprehensive while a balance sheet is specific to a certain expense. the latter is represented in a profit and loss statement.

    Harrison A.
    AT
    Harrison A.

    The profit and loss statement depict the status of the org overall profits.These statements include how much money the org have earned(revenue) and subtract how much the org have spent or incured(expenses),resulting in how much the org have (profit)or lost money(deficits).Basically,the statement includes total sales minus toatl expenses.It presents the nature of the business org overall profit and loss over a period of time.Therefore,the income statement gives a sense for how well the business is operating .

    Harrison A.
    AT
    Harrison A.

    what is the meaning of Perpetual Inventory approach and what relationship does it have with profit and loss statement of a business ?

    Zachary B.
    US
    Zachary B.

    What is the profit and loss statement?

    Diamond T.
    US
    Diamond T.

    what is the meaning of Perpetual Inventory approach and what relationship does it have with profit and loss statement of a business ?

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